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Financial Statement Analysis

2535 words - 11 pages

XYZ CONSTRUCTION CO., INC.
FINANCIAL STATEMENTS
DECEMBER 31,20X1

SAMPLE FINANCIAL STATEMENTS

Page

2

Balance Sheet

Page

3

Statement of Income and Retained Earnings

Page

4

Statement of Cash Flows

Pages 5 - 6

Notes to Financial Statements

Pages 7 - 13

ACCOUNTANTS' REVIEW REPORT

FINANCIAL STATEMENTS

SUPPLEMENTAL INFORMATION
Schedules of Earnings from Contracts and Contract Costs

Page

14

Schedules of General and Administrative Expenses and
Other (Income) Expense

Page

15

Schedule of Contract Revenues, Costs and Profits

Page

16

JONES, HENLE . SCHUNCK
THOMAS N. HENLE. CPA
KARL E. SCHUNCK, CPA
JOHN S. PALMER, CPA
...view middle of the document...

Our review was made for the purpose of expressing limited assurance that there are no material
modifications that should be made to the financial statements in order for them to be in conformity with
generally accepted accounting principles. The supplemental information accompanying the financial
statements is presented only for supplementary analysis purposes and has been subjected to the inquiry
and analytical procedures applied in the review of the basic financial statements. We did not become
aware of any material modifications that should be made thereto.

JONES, HENLE & SCHUNCK
An Accountancy Corporation

February 22,20XX

XYZ Constructio~t
Co., Inc. is afictitious entity. The accounts and balances have been developed for
illustrative purposes. -

135 TOWN 8 COUNTRY DRIVE P.O. BOX 9500 DANVILLE, CA 94526
z
(925) 820-1821 FAX (925) 820-8266 E-Mail jhscpa@jhs.com
www.jhs.com
Soritl~em
Califor~zia
ofice in Orange (714) 978-1800

XYZ CONSTRUCTION CO., INC.
BALANCE SHEET
DECEMBER 31,20X1
ASSETS
CURRENT ASSETS
Cash
Contract receivables
Costs and estimated earnings in excess
of billings on uncompleted contracts
Other assets
Total current assets
EQUIPMENT - net
TOTAL ASSETS
LMILITIES AND STOCKHOLDERS' EQUITY
CURRENT LMILlTIES
Accounts payable
Line of credit
Billings in exc.ess of costs and estimated
earnings on uncompleted contracts
Accrued expenses
Income taxes payable
Current portion of notes payable
Deferred income taxes
Total current liabilities
NOTES PAYABLE - less current portion
NOTE PAYABLE - STOCKHOLDER
Total liabilities
STOCKHOLDERS' EQUITY
Capital stock
Additional paid-in capital
Retained eamings
Total stockholders' equity
TOTAL LLABLLITIES AND STOCKHOLDERS' EQUITY

426,496
$

(See accountants' review report and accompanying notes to financial statements)

1,170,660

3

XYZ CONSTRUCTION CO., INC.
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED DECEMBER 31,20X1

CONTRACT REVENUES
CONTRACT COSTS
GROSS PROFIT
GENERAL AND ADMINISTRATIVE EXPENSES
OPERATING INCOME
OTHER EXPENSE - net
INCOME BEFORE PROVISION FOR INCOME TAXES
PROVISION FOR INCOME TAXES

NET INCOME
RETAINED EARNINGS, beginning of year
RETAINED EARNINGS, end of year

(See accountants' review report and accompanying notes to financial statements)

XYZ CONSTRUCTION CO., INC.
STATEMENT OF CASH FLOWS
YEAR ENDED DECEMBER 31,20X1

CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers
Cash paid to subcontractors, suppliers and employees
Interest paid
Income taxes paid
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Advances on line of credit
Repayments on line of credit
Repayment of notes payable
Net cash used in financing activities
NET INCREASE IN CASH
CASH, beginning of year
CASH, end of year

(See accountants' review report and...

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